2022-09-30-accounts

Nightingale Hammerson

Annual Report and Financial Statements

30 September 2022

Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2022

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Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2022

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CONTENTS

Reports
Reference and administrative information	4
Professional advisors	5
Chairman’s report	6
Report of the directors of the corporate trustee	8
Independent auditor’s report	28
Accounts
Consolidated statement of financial activities	32
Charity statement of financial activities	33
Balance sheet	34
Consolidated statement of cash flow	35
Notes to the financial statements	36

Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2022

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Registered Name Nightingale Hammerson Registered Charity Number 207316 governed by a scheme made by the Charity Commission on 30 March 2012 Principal office 105 Nightingale Lane London SW12 8NB Telephone [phone] Facsimile 020 8675 2258 Website www.nightingalehammerson.org Life Patron Dame Vivien Duffield DBE President Harvey Rosenblatt Vice Presidents Patricia Beecham Susan Grant (from 1 April 2022) Corporate Trustee Nightingale Hammerson Trustee Company Limited Non-Executive Directors and Board Members: Chairman Melvin Lawson (until 1 February 2023) Joanne Black Co-Chair (from 1 February 2023) Paul Althasen Co-Chair (from 1 February 2023) Honorary Treasurers David Winton (Retired 31 March 2022) John Reizenstein (Retired 1 June 2023) Paul Althasen (from 1 April 2022) Other directors Carolyn Balcombe Colin Green (Retired 31 March 2022) Daniel Dayan Gill Livingston (Appointed 17 February 2022) Harvey Rosenblatt (Retired 31 March 2022) Jacqueline Morris (Retired 16 December 2021) Joanne Black Keith Barnett Melvin Lawson Paul Althasen Rosalind Taylor Susan Grant (Retired 31 March 2022) Steven Sharpe (Appointed 28 July 2022)

Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2022

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REFERENCE AND ADMINISTRATIVE INFORMATION

Senior Leadership Team:
Chief Executive Officer	Helen Simmons (to 31 May 2022)
	Jenny Pattinson (from 1 July 2022)
Director of Finance, Property and ICT	Abiola Yusuf (to 4 December 2022)
Director of Finance	Chelsea Bassom (from 1 February 2023)
Director of Care	Nuno Santos Lopes (to 27 June 2023)
Director of People	Kevin Noble (to 16 June 2023)
Director of Hospitality and Operations	Florian Jourdhier (to 31 December 2022)
Director of Operations	Ed Davidson (from 13 June 2023)

PROFESSIONAL ADVISORS

Auditor Buzzacott LLP 130 Wood Street London EC2V 6DL Principal bankers National Westminster Bank plc 98 Wandsworth High Street London SW18 4ZD Investment managers Veritas Investment Management LLP 90 Long Acre London WC2E 9RA Cazenove Capital 1 London Wall Place London EC2Y 5AU Solicitors Bircham Dyson Bell LLP 50 Broadway London SW1H 0BL

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CHAIRMAN’S REPORT

It has been an incredibly successful twelve months at Nightingale Hammerson , and we would like to provide an update on changes to our leadership structure, recognise both those who are joining and leaving our organisation and lastly share our achievements to date and our future plans.

Firstly with regards to our leadership structure. In February 2023, Paul and myself were appointed CoChairs of Nightingale Hammerson and it is a great honour and privilege for both of us to serve an organisation with such a deep-rooted legacy. Paul and I plan to use our complementary skills for the benefit of our residents, their families and the community. We took over the role from Melvin Lawson who we cannot thank enough for his dedication and commitment; Melvin will remain on the board as a trustee and will serve on several key committees where his advice will be invaluable.

There have been other changes on the board. We thank Colin Green, David Winton, Susan Grant and John Reizenstein who step down after many years of service; their dedication, advice and hard work has been exemplary. Susan remains within the organisation as Vice President, David remains within our expert committee structure and Harvey Rosenblatt continues to serve as our dynamic President. We have been fortunate indeed to have retained so much experience within our organisational structures. We also welcome Ian Grabiner and Steven Sharpe who join the board as a new trustees and we are about to Russell Nathan as our Treasurer.

In July 2022, we welcomed our new Chief Executive, Jenny Pattinson who has made a huge impression on our charity both with residents and staff teams. Jenny led our new Values Campaign, instilling their importance within our teams from board level to staff level, while also spending considerable time listening to our residents and their families to identify key issues. Jenny has been instrumental in managing our business, and has reviewed salaries, afforded bonuses and instigated staff appreciation awards where appropriate across the organisation.

In terms of our achievements, it has been another busy year for Nightingale Hammerson and we should be proud to celebrate some major milestones. We have almost doubled our resident numbers - meeting our goal of 250+ residents - while remaining able to maintain an excellent level of service and care throughout our campuses. Feedback from residents and their families has been exemplary throughout and it would be remiss if we did not thank and recognise the dedication and commitment from our Staff Teams, our Senior Leadership Teams and our Heads of Department who now stand over 500 strong and have made these incredible feats possible across both of our houses.

We are delighted that Nightingale House has again been awarded CQC Outstanding status for a second time. This is testament to Jenny, our CEO and Nuno, our Director of Care who, together with our Staff Teams, were able to demonstrate outstanding care practice, with exceptional leadership. Hammerson House’s first CQC inspection was rated Good, which is an excellent rating for a newly opened Home. Thank you to everyone who played their part in these achievements.

The Apples & Honey Nightingale Nursery at Nightingale House was also awarded an Outstanding rating by Ofsted. Our Residents benefit enormously from the interaction with young children and, as pioneers of the first Intergenerational Programme in the UK, we are hugely proud of its success. We are currently in the process of delivering an Intergenerational Programme at Hammerson House, working towards the proven success of Intergenerational Care at Nightingale House.

Looking ahead, we recognise our Care Teams are at the forefront in best care practice and are supported with career development and we look forward to prioritising this pillar of our future growth. Innovation, learning, and education are core to our ethos, enhanced through partnerships with

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CHAIRMAN’S REPORT (Continued)

leading researchers and social care experts and we were delighted to be hosting our second Care Home Research Forum at Hammerson House later this year.

Our Multidisciplinary Care Teams are a beacon of outstanding care and this year we have added Speech Therapy to our care offering. Our Therapies Team (Physiotherapists, Occupational Therapists, Moving & Handling, Dietitian and Support Staff) means we are the only Care Home to have a comprehensive inhouse Multidisciplinary Team and we look forward to continuing to push for innovation on the front lines of care.

From Paul and myself, our mission remains to ensure that we continue to offer outstanding care, a welcoming Jewish Home, and a safe environment for our Residents. We have every confidence that we will build on the success of Nightingale Hammerson.

Joanne Black and Paul Althesen

Co-Chairs

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REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE

The directors of the corporate trustee of Nightingale Hammerson (herein referred to as ‘directors’ or ‘trustees’), who act as the Trustee Board of the Charity, present the statutory report and accounts for the year ended 30 September 2022. These accounts have been prepared in accordance with the accounting policies set out on pages 35-40 and comply with the charity’s governing document, applicable laws and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

Our Corporate Structure

Nightingale Hammerson’s corporate structure comprises two active entities, both ultimately controlled by the directors of Nightingale Hammerson and included in the consolidated accounts. These are:

• Nightingale Hammerson, a registered charity, providing residential and nursing home facilities at two London sites, Nightingale House, in Clapham, and Hammerson House Wohl Campus, in Hampstead Garden Suburb; and

• Chalkford Limited, a company registered in England and Wales, whose business is property construction.

The Charity also had two dormant entities namely, Camden Jewish Society, which was dissolved on 27 September 2022 and The Friends of Nightingale House.

Our Charitable Purpose

Nightingale Hammerson exists to be a leading provider of quality relationship-centred care for older Jewish people. We provide residential, dementia, nursing and palliative care services and treat all our residents with respect and dignity.

Our aim is to provide holistic care and support in a safe and stimulating environment using dedicated and trained staff and volunteers. We do this through the operation of two residential and nursing care homes – Nightingale House, in Clapham, and Hammerson House, Wohl Campus, in Hampstead Garden Suburb.

Nightingale House traces its origins back to 1840 in the East End of London. It moved to its current site in Clapham in the early 1900s and has continued to deliver excellent care. Nightingale House was purpose-built to serve residents with residential, dementia, nursing and palliative care needs, either on a permanent basis or respite. During the previous financial year, the directors agreed a refurbishment budget, to modernise the home and implement some energy efficiency measures in the facility. This project is ongoing with work starting in 2022/23.

Nightingale House currently has 5 active households with the following maximum bed capacity:

Households	Dedicated Service	Maximum Bed Capacity
Wine	Residential	45
Sherman	Residential Dementia	45
Osha	Residential	15
Wohl	NursingDementia	40
Ronson	Nursing /Palliative Needs	26
Total		171

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Hammerson House was established some 55 years ago, thanks to an exceptional gift from Mrs Sue Hammerson CBE in memory of her late husband Lewis W Hammerson. For many years it was primarily a residential home although offering some nursing beds and sheltered housing. It was closed for redevelopment in 2017 and re-opened in 2021. Hammerson House , Wohl Campus, will provide care to those with residential, dementia, nursing and palliative care needs. Hammerson House, Wohl Campus, has 6 households with the following maximum bed capacity:

Households	Dedicated Service	Maximum Bed Capacity
Isaac Wolfson	Residential	18
Edith Wolfson	Residential	20
Audrey	Residential Dementia	18
Pat	Residential Dementia/NursingDementia	20
Wigoder	NursingDementia	20
Ronson	Nursing /Palliative Care Needs	20
Total		116

Our Vision

Our vision is to be an internationally recognised centre of care, excellence and innovation; a jewel in the crown of the Jewish community.

Our Mission

Our mission is to be the leading organisation recognised for providing the best relationship-centred care in the UK and to share what we know with key stakeholders.

Our Values

Our values are Compassion, Respect, Excellence, Dignity, Integrity and Teamwork.

Our Statement of Public Benefit

In setting the aims of the charity, the directors have had regard to the guidance published by the Charity Commission in respect to the provision of public benefit by charities. Nightingale Hammerson is committed to providing the quality level of care to all older Jewish people in need, regardless of their personal financial status. A substantial proportion of residents are in receipt of local authority or other government funding and the Charity raises funds from its donors and benefactors in order to meet the ever-growing shortfall between government funding and the costs of quality care provision.

Our Trustees

The directors of the corporate trustee act as the Trustee Board of the Charity and their names are as set out on Page 3 with brief autobiographies at the end of this report. The Trustee Board meets formally at least five times a year. Between meetings, directors engage with the Charity, its volunteers and staff in many and varied ways, such as providing guidance on projects, raising funds, serving formally on committees or supporting new initiatives. Directors are appointed via proposal to the Nominations and Governance Committee and serve 3-yearly terms up to a maximum of 10 years (the first year of service is deemed an induction year).

No director received any remuneration or expenses from the Charity during the year.

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Our Committees

The Charities committee structure is set up to ensure it can adapt and adequately respond to the evolving challenges facing the charity and the adult social care sector, as a whole.

The main committees of the Board are:

• Nominations Committee: Provides guidance on governance, lead on the recruitment of new directors (or trustees), reviews terms of office, and leads on directors’ induction, appraisal and training.

• Finance Committee: Oversees all financial matters including the financial risk register, budget setting financial performance and financial planning.

• Resident Experience & Assurance Group: Oversees service and quality assurance as well as volunteer and events programmes.

• Audit and Risk Committee: Oversees the organisational risk assurance framework. It is also responsible for ensuring that the Board is apprised of the principal risks and plans are put in place to mitigate those risks.

• Nightingale House Working Group: This committee oversees the major refurbishment project for Nightingale House.

• Investment Committee: Oversees the investment portfolio and provides instruction to the investment managers in line with the charity’s investment policy.

• Operations and Efficiencies Committee: Responsible for overseeing the performance of specific departments to ensure the resources are used to support and deliver the strategic aims of the Charity, while ensuring sustainability and championing best practice.

• Fundraising & Marketing Committee: Oversees the planning and implementation of fundraising plans, marketing materials and communications externally to boost voluntary donations and capital fundraising income.

In addition to the above, there are other groups set up to provide additional support to the main committees. These are the Fee Subsidy Group, Major Donor Group, Relationship Centred Care Group, Education & Development Group and the Care Risk / Safeguarding Group. The Board of Trustees may also on occasion, set up a task and finish group to provide support to the executive team and oversee the delivery of specific tasks, over a specific period of time.

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Our Committees (continued)

Directors, who served during the year, also served on the various committees of the Board as set out below. Every committee and group is supported by lay leaders who are also members of the committees and contribute a wealth of experience and expertise to their respective committees and / or groups.

NOMS FINANCE RES EXP & ASS AUDIT NH STRATEGY INVESTMEN T OPS & EFF FUND- RAISING	NOMS FINANCE RES EXP & ASS AUDIT NH STRATEGY INVESTMEN T OPS & EFF FUND- RAISING
CAROLYN	  
DANIEL	  
GILL
IAN	  
JOANNE	   
JOHN
KEITH	 
MELVIN	    
PAUL	    
ROSALIND	 
STEVEN	 

Our People

This year, we had an average of 401 staff, across both homes. Recruitment and retention were particularly challenging this year given the continued opening of Hammerson House and a shortage of care staff in this country. Whilst we are grateful that we can draw from our pool of ever-supportive volunteers, the senior leadership team developed a renewed approach to pay packages and increased the retention benefits. We continue to explore innovative ways of attracting and retaining talents including enhancing our learning and development programme, offering flexible shifts and seizing opportunities for overseas recruitment.

Our Volunteers

During 2022 we benefited from a significant increase in the number of volunteers in Nightingale Hammerson. Hammerson House had 48 volunteers who at times outnumbered residents. Nightingale House had a team of 62 volunteers, both established and 14 new volunteers. Overall we had 110 active volunteers in 2022 who made a substantial impact on the wellbeing of our residents. It’s worth noting an increase of young volunteers with the recruitment of 9 volunteers aged 16-30.

The communities near both our care homes remain dedicated and commitment to enhance the lives of our residents.

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REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED)

Our Volunteers (continued)

We nominated two of our volunteers for the JVN young volunteer of the year (Lena Sakure) and volunteer of the year award (Jenny Strauss). We were delighted that both volunteers were recognised for their huge volunteering contribution along with many other volunteers from Jewish charities.

2022 was a successful year for volunteering with a strong foundation and continued growth to meet the diverse needs of our residents.

Remuneration of Our Senior Team

Our Senior Leadership Team (SLT) form the key management personnel of the charity and are responsible for the charity’s affairs on a day to day basis. Remuneration is benchmarked and set with reference to current market conditions so to ensure that the charity can recruit and retain high calibre staff. Annual pay reviews are approved by the Finance Committee.

Employment Policy

We strive to be an equal opportunity employer and apply objective criteria to assess merit. We aim to ensure that no job applicant or employee receives less favourable treatment on the grounds of age, race, colour, nationality, religion, ethnic or national origin, gender, marital status, sexual orientation or disability. Selection criteria and procedures are reviewed to ensure individuals are selected, promoted and treated on the basis of their relevant merits and abilities. All employees are given equal opportunity and, where appropriate, special training to enable them to progress. Volunteers are coordinated by the Volunteer Development Manager, with recruitment, management, training and supervision policies in place.

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Our Achievements

Maintained Outstanding Care at Nightingale House

In September 2022 we had a full CQC inspection at Nightingale House. A Team of inspectors did physical checks for 3 days across all the departments of the home and spoke with residents, relatives, team members and volunteers, assessed documentation and spoke with external stakeholders. The outcome couldn’t have been better. We sustained our Outstanding status. We are very proud of it and more when we have been the only care home for older adults rated Outstanding in London since 2020.

Hammerson House

We have consolidated the team and numbers of residents at Hammerson House, ending the financial year with 58% of our occupancy. As at the time of signing the accounts (July 2023), all 6 Households are open and occupancy is at 79%. We provide residential, residential dementia and nursing dementia at Hammerson House. We now offer all the levels of care any resident can get in a Care Home for older people.

In March 2022, one year after opening we were visited by a team of inspectors. This was the first CQC inspection since opening. Inspectors stayed in the home for one day and the outcome of the inspection was Good in all the key lines of enquiry, which is an achievement as very few care homes achieve a Good rating in all the key lines of enquiry within 1 year of opening.

Shared Insights through Research

We have been engaging with several universities and researchers and being the field for several research studies. Over the past year we were involved in 14 different research studies and engaging with the National Institute for Health and Care Research. Nightingale Hammerson is seen as a pioneer in the way we welcome researchers within our homes. Because of that we have been invited to participate in conferences and events where we share with researcher how to engage with social care providers for research. The first Care Home Research Forum was a success and a second event is happening in November 2022. This brings together researchers, residents, relatives, care home professionals, local authorities and CQC into one place to discuss about the future of research in care homes.

Education

For the second year we have been endorsed by Skills for Care for the educational programmes we deliver. This recognises the quality of the education but also highlights how serious we take education within our organisation. We have started to open our educational programmes to external professionals and will be assessing whether this can expand as a business model.

Covid-19

As we are having an approach of living with Covid-19, Nightingale Hammerson has been a pioneer and shared good practice internationally about how to safely and effectively manage Covid-19. We have been the first care home in the world not to require staff and visitors to wear a mask while keeping our community safe. Government followed our policy 9 months later. Our resident centred approach has been shared with many providers in England but also internationally and with government bodies.

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Our Achievements (continued)

Therapies

We have reviewed our therapies provision to best support the health outcomes for our residents. Our physiotherapists, occupational therapists and moving, therapies assistants and handling advisor are now able to provide more one to one sessions for our residents, which also translates into a new form of income for the charity through our private therapies model. We will be increasing our multidisciplinary therapies team by hiring a clinical psychologist and a speech and language therapist.

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Our Plans

We have been providing exceptional care for over 180 years, yet we hear time and time again from members of the Jewish Community that we are a ‘Hidden Jewel’ in the crown of the community when it comes to care. Nightingale House is the only Jewish Home for older people in the UK to be classified ‘Outstanding’ by the CQC. We therefore want to build on our strengths and successes whilst improving on our weaknesses. We also want to seek opportunities to intentionally remain the centre of excellent care. Our strategic priorities, as approved by the Board, are as follows:

1. We will extend our exceptional care

• By recruiting and retaining exceptional staff and volunteer teams at Hammerson House, Wohl Campus, to deliver care to Nightingale Hammerson's high standards

• By developing a Customer Service Strategy across the organization.

• By developing a model to support the wider Jewish Community to access our facilities, skills and expertise

2. We will embed Continuous Improvement & Share Expertise globally

• By further embedding our Care Home Education Centre across both sites and to the wider Care community

• By linking with academic researchers to support continual improvement and learning

• By developing a passionate and inspiring Communications Strategy.

3. We will be the exemplar for Relationship-Centred Care (RCC)

• By further embedding an education programme for RCC both internally and externally

• By listening and responding to what matters most to the 4 key relationship groups - residents, staff, families & volunteers

• By practicing what we preach every day

4. We will generate the greatest impact for our residents from our resources

• By setting a fundraising strategy to increase donations (including a legacy campaign)

• By setting a marketing strategy to increase resident numbers

• To ensure we are working efficiently operationally and get the best value for money from our suppliers and contractors

5. We will expand our Innovation programme including the reach of our intergenerational work and

use of technology

• By expanding our intergenerational work to include more age groups and developing an education programme for Intergenerational work

• By working with innovative external partners

• By participating in successful research projects and investing in their implementation in our homes.

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Our Plans

6. We will be a first class employer

• By implementing a new people strategy that includes - wellbeing and enhanced staff engagement, pay and reward benchmarking, literacy and technology support, diversity and inclusion

• By striving to achieve Investors in People Gold Award

• By defining career paths for all staff team members including through our own development programme.

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REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED)

Financial Review

This review focuses on the year ended 30 September 2022. It remained a challenging year for us with the ongoing impact of the pandemic and increased running costs on the community we serve, our operations and our supporters. At the end of the year, our total income from our charitable activities was £14.8m, an increase of £4.4m from the previous year. This is due to the re-opening of Hammerson House, Wohl Campus in May 2021, which compensated for the decrease in resident numbers at Nightingale House. At the year end, we had 114 residents at Nightingale House and 67 at Hammerson House, Wohl Campus, a decrease of 7 and increase of 24 respectively.

As expected, the opening of Hammerson House, Wohl Campus resulted in our operational costs, including staffing costs, catering and accommodation costs increasing. Staff costs account for 60% of our total operational expenditure (2021: 61%), with our staff continuing to be at the centre of all we do and achieve. Our average staff number increased from 346 last year to 402. The majority of the increase was to support direct care provision and frontline services, for which recruitment continues to take place. Our vision continues to be extending exceptional care services to Hammerson House, Wohl Campus, and delivering personalised Relationship Centred Care across both homes. To maximise resources, we adopted a cross-site working policy for some administrative staff and the SLT.

Our net expenditure before transfers and gains at the end of the year was £2.17m (2021: £0.47m). This was to be expected given it was the first full year of opening our second care home. We received £0.4m (2021: £0.6m) in government grants to mitigate the increased cost of infection control across both homes and to support payment to staff isolating in line with HMRC Coronavirus Job Retention Scheme. Fundraising generated £3.1m in donations and legacies (2021: £2.3m) at a cost of £0.5m (2021: £0.4m), means that for every pound spent we raised £6.12 (2021: £5.72).

means that for every pound spent we raised £6.12 (2021: £5.72).
	2022	2021
	£m	£m
Income from care provision	14.8	10.4
Cost of care provision including depreciation	(21.1)	(15.6)
Government related infection control and furlough grants	0.4	0.6
Other operatingincome	0.1	0.4
Operating deficit	(5.8)	(4.2)
Net revenue fundraising income (excluding legacies)	1.4	1.0
Legacies	1.0	0.9
Net income from investments	0.2	0.2
Profit on disposal of fixed assets	0.8	-
Deficit before investmentgains and capital fundraising	(2.4)	(2.1)
Capital donations for Hammerson House, WOHL Campus	0.2	1.7
Realised gains from investments	0.3	0.3
Unrealised gains/ (losses) from investments	(1.6)	3.1
Actuarial gains from pension scheme	0.5	0.8

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Financial Review (continued)

We sold the Belmont Lodge property on 1[st] November 2021. This generated a profit of £0.8m. The deficit before investment gains and capital fundraising remained at a similar level, £2.4m compared to £2.1m in 2021. Capital donations for Hammerson House, Wohl Campus slowed down during 2021/22, as expected, reducing from £1.7m to £0.2m. There was a significant unrealised loss on investments from both fund managers, totalling £1.6m.

Where our income came from

Where the money was spent

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Investment Policy and Performance

It was a very turbulent year for the charity’s investments. Realised gains and unrealised losses on investments totalled a loss of £1.4m (2021: gains of £3.4m). Income realised from investment remained low at £0.3m, with low interest rates on cash deposits.

As part of maintaining good financial stewardship of the charity’s resources, the directors appoint two fund managers to manage the investment portfolio. The Board sets the investment mandate which is targeted at achieving total or real returns on a rolling 5 year period with an emphasis on capital growth. The Board’s risk appetite is set as medium risk, in line with the Asset Risk Consultants (ARC) Group indices. The fund managers have full discretion to invest the charity’s funds according to the investment mandate and the set target of attaining (or outperforming) UK CPI +3%, net of all fees. The Investment Committee receives periodic updates from both fund managers and provides an update on performance at every Trustee Board meeting.

There have been challenging economic, market and geopolitical factors which have had a negative impact in 2022 on equity and bond markets, in particular, inflation, rising interest rates, the war in Ukraine and further lockdowns in China. Neither fund manager made material changes to the portfolios and both saw the benefits of having added to commodities exposure early in the year. As at 30 September 2022, the investment in Vanguard FTSE All World ETF was the single largest holding in the portfolio, representing 4.7% of the total portfolio (2021: 4.5%).

The total investment portfolio as at 30 September 2022 was £27.0m (2021: £28.1m), excluding the managed investment property valued at £0.3m (2021: £0.3m). The asset allocation is illustrated below:

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Free Reserves

An important role for our Board of Trustees is to manage the long-term sustainability of the charity. We have therefore set our reserves policy to:

1. partly fund the funding gap between fee income and cost of care

2. ensure we are resilient and have the financial capability to momentarily respond to unforeseen financial difficulties

3. provide resources to fund the operational start-up costs at Hammerson House, Wohl Campus

4. allow investment in the refurbishment of Nightingale House, technological advancement, energy efficiency schemes and estates and facilities management

5. enable future expansion of our services to the elderly members of the community.

We have calculated our free reserves as that part of the charity’s unrestricted income funds that is freely available after taking account of the tangible fixed assets, restricted, endowment and designated funds earmarked for specific projects. We have considered that given the nature of the charity’s work, the continuing impact of the Covid-19 pandemic, political uncertainty around social care funding, economic uncertainties, impact on disposable income, stock market volatilities and the growing demand for elderly care, the level of free reserves should be equivalent to at least 6 to 12 months’ expenditure.

We are also of the opinion that the free reserves should afford the charity the flexibility to cover temporary shortfalls in incoming resources either due to the timing difference in cash flow or funding shortfall. As at 30[th] September 2022 the charity held free reserves of £21.4m. Based on the 2021/22 results, the free reserves cover 12 months of operational expenditure. Looking forward, the budgeted operational costs for 2022/23 are £21.7m and 2023/24 £22.5m, meaning free reserves will need to increase slightly in order to remain at the 12 month target for 2023/24. Free reserves are therefore in line with requirements.

Going Concern

The global outbreak of the Covid-19 virus pandemic has led to unprecedented uncertainty for all organisations. We have however taken this situation, difficult as it is, as an opportunity to review our strategic focus and business assumptions. An extensive financial modelling exercise was done in the prior year, and more recently refreshed, taking into account the charity’s current operating landscape (such as rising costs due to staff wages, inflation and energy costs, refurbishment costs for Nightingale House and challenges with recruitment and retention). Despite the financial risks, the charity continues to benefit from support from the community, high performing investment portfolios and government social care grants. The 3 and 10-year financial forecasts shows the charity’s ability to meet its financial commitment for the foreseeable future. As such, the Board of Trustees is comfortable that the accounts have been prepared on a going concern basis.

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REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED)

Fundraising for our Charitable Objectives

With the ever more complex care needs and the impact of government initiatives such as the National Living Wage and the pension reform, the need to fundraise to support core funding has never been greater. Local authorities and the NHS, who fund a substantial proportion of our residents, are operating under ever-tightening budgetary constraints. In order to provide the same level of care to all residents, we have to raise in the region of £2.5m per annum through fundraising activities and legacies. This amount will only increase as the differential grows between costs of care on the one hand and government funding on the other.

Our donors and benefactors have continued to give generously, for which we are very grateful. We raised £1.4m (net fundraising income) in the year to support day to day operations with an additional £0.2m received in respect of the Hammerson House, Wohl Campus, building project. The publicity within the community surrounding the Hammerson House, Wohl Campus, development created a natural opportunity for us to raise awareness of what makes Nightingale Hammerson special.

Our heartfelt thanks go to all our donors.

Our Commitment to the Fundraising Code of Practice

Nightingale Hammerson is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice. We aim to achieve best practice in the way we communicate with our donors and other supporters. Our supporters are at the heart of our ability to fulfil our mission. Following continued scrutiny of fundraising practices across the sector, we have reviewed our systems to ensure that formal consent is gained from all those whom we wish to contact for fundraising purposes. By reviewing our processes, we aim to achieve the standards set out in the Fundraising Code of Practice and ensure compliance with the General Data Protection Regulation. We do not employ third party professional fundraisers or commercial organisations to fundraise on our behalf. We recently undertook a crowd funding fundraising event where the service of a third party charity was employed to provide the technology and campaign expertise needed to make the event a success. We remained the Data Controller and ensured appropriate due diligence were undertaken prior to engaging that firm.

Also in compliance with the Fundraising Code of Practice, we do not take part in any intrusive or highpressure fundraising activities such as street fundraising, door-to-door or cold-calling. We listen to feedback and investigate any complaints regarding our fundraising activities. During the year, we received no complaints about our fundraising activities.

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REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED)

Principal Risks and Uncertainty

Our Approach to Risk Management

Risk is inherent in our operations and the decisions made in pursuit of our charitable goals. The Board of Trustees is responsible for the nature and extent of the principal risks that we are willing to take. It reviews the principal risks to the organisation and ensures that risks are effectively managed through our governance structure. The Board delegates the detailed review of operational risks to the Audit and Risk Committee who review both financial and non-financial risk registers. Our principal risk portfolio will continue to be reviewed by the Board as relating to our strategic priorities. The sub-committees of the Board, namely the Care, Finance and Investment Committees, have continued to focus on more indepth management of our day-to-day responses to risks. Our principal risks with mitigating actions are:

Fire

With a large number of frail and often immobile residents, managing fire risk is a key priority for us. Detailed fire risk assessments are undertaken at all levels across the organisation. This includes monthly fire drills in households, fire safety awareness for all staff, periodic fire risk assessments and ensuring the designated fire marshals have the necessary training. During the year, three fire risk assessments were completed at both homes, two at Hammerson House, Wohl Campus, (pre-occupational and occupational) and one at Nightingale House and all issues raised have been mitigated. An additional survey of the fire doors at Nightingale House was undertaken following the recommendation from the previous year’s report. Other improvements have been implemented, with some short term solutions found at Nightingale whilst the refurbishment plan is finalised. Furthermore, each resident has a Personal Emergency Evacuation Plan which takes into account their particular needs in relation to fire evacuation. Fire alarms are tested weekly and periodic fire drills are done. Reports on fire drills, fire incidents and fire risk assessments are reported at the Audit and Risk Committee.

Coronavirus

The Covid-19 pandemic remains the most significant external risk facing the charity - impacting on our residents, staff and volunteers. Multiple aspects of our operations were adapted in keeping with government’s guidelines on infection control, safety, hygiene and social distancing. A robust COVID Business Continuity Plan remains in place. SLT held fortnightly Covid-19 meetings throughout the year reviewing infection control risk assessments, outcomes from the testing regimes, changes in government guidance and evaluating the effectiveness of the extra measures put in place.

Recruitment and Retention

Recruitment and retention, although it is a known challenge within the care sector, became a bigger risk to us with the opening of Hammerson House, Wohl Campus. This is directly linked to our ability to take on new residents as planned, resulting in loss of income opportunities. We also saw an increase in the use of agency staff and overtime payments. A recruitment and admission plan was put in place with progress monitored by SLT and regular updates provided to the Trustees. A new pay and reward structure was also implemented which has enhanced the starting wage of our frontline staff and also offer new benefits to enhance retention and staff referral. A new People Strategy was also developed and presented to the Board. This will build on the new pay and reward structure as well as promote wellbeing at work to reduce absenteeism, diversity and inclusion and developing career pathways.

Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2022

REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED)

Principal Risks and Uncertainty (continued)

Financial

Just like households across the country, care homes, like ours, are being hit by soaring energy bills and food prices. The impact of this and the increase to staff wages and insurance premiums has had a significant impact on our operational expenditure. Furthermore the Adult Social Care Charging Reform published on 3 December 2021 is currently due to take effect from October 2023, and will add some financial challenges, in addition to the budgetary squeeze on local government funding. A detailed financial risk register is maintained and overseen by the Finance Committee, who continue to review ways to improve our financial resilience in order to ensure sustainability. We continue to assess the impact of these risks on the bottom-line through the 3 and 10 year financial model.

Health and Safety

Our approach to maintaining a good Health and Safety practice at work is very hands-on. We established three core Health and Safety groups to focus on operations, care and property maintenance. These core groups hold quarterly meetings and provide updates to the Principal Health and Safety Committee which also meets quarterly. Due to the Covid-19 pandemic, the focus of the core groups and committee was more on mitigating the spread of the virus and ensuring the recommended hygiene practices were adopted across the organisation. Regular risk assessments are carried out and remedial action taken where needed. Code-operated doors protect all residents from areas which may be hazardous, such as open staircases. Areas of high risk, such as laundry and kitchen, are only accessible by authorised staff. All staff receive health and safety training specific to their areas of responsibility.

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REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED)

Streamlined Energy and Carbon Reporting

We remain committed to measuring and reducing our energy consumption and the carbon impact of our operations on the physical environment. Nightingale Hammerson has appointed Carbon Footprint Ltd, a leading carbon and energy management company, to independently assess its Greenhouse Gas (GHG) emissions in accordance with the UK Government’s ‘Environmental Reporting Guidelines: Including Streamlined Energy and Carbon Reporting Guidance’.

The GHG emissions have been assessed following the ISO 14064-1:2018 standard and has used the 2022 emission conversion factors published by Department for Environment, Food and Rural Affairs (Defra) and the Department for Business, Energy & Industrial Strategy (BEIS). The assessment follows the location-based approach for assessing Scope 2 emissions from electricity usage. The operational control approach has been used. As part of the required disclosure, the scope of emission were categorised as:

• Scope 1: comprises direct emissions associated with the combustion of fuel (natural gas) as well as additional emissions sources such as refrigerants and owned transport (the minivan).

• Scope 2: comprises primarily indirect energy consumption including consumption of purchased electricity.

• Scope 3: relates to other indirect emissions occurring as a consequence of activities not owned or controlled by the charity e.g. service-related travel.

The table below summarises the GHG emissions for reporting year: 1st October 2021 to 30th September 2022. We have been assessing our carbon emissions since 1st October 2019 and have provided the baseline year and last year’s assessment results for comparison.

**Scope **	Activity	**2019/20 tCO2e **	**2020/21 tCO2e **	**2021/22 tCO2e **
Scope 1	Sitegas	580.46	1,029.75	698.37
	Owned Vans	0.17	5.69	8.47
	Refrigerants	17.23	0.00	0.00
Scope 1 Sub Total		597.86	1,035.44	706.84
Scope 2	Electricity generation	402.09	426.69	471.37
Scope 2 Sub Total		402.09	426.69	471.37
Scope 3	Electricity transmission & distribution	34.58	37.76	43.12
Scope 3 Sub Total		34.58	37.76	43.12
Total tonnes of CO2e1		1,034.53	1,499.89	1,221.33
Tonnes of CO2e per employee		3.11	4.33	3.12
Tonnes of CO2e per £M turnover		100.34	136.35	66.81
*Total Energy Consumption(kWh) **		4,882,296	7,105,661	6,263,378

• Total Energy Consumption includes UK Electricity, UK Site Gas, Company Owned Vehicles.

CO2e = Carbon O2 Emission

1 Emissions from electricity transmission & distribution have not been included as this is outside the boundary required for SECR Regulations.

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Trustees Report and Annual Accounts for Year Ended 30 September 2022

REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED)

Streamlined Energy and Carbon Reporting (continued)

The data shows our energy consumption decreased from 1,500 tonnes to 1,221 tonnes CO2e at the end of September 2022. Nightingale Hammerson’s total carbon footprint increased by 18.1% compared the baseline year. This is due to the increase from all emission sources except refrigerants, which is linked to this being the first full year that Hammerson House was operational. However, Nightingale Hammerson has reduced its total emissions from the previous year which is due to a 32% reduction in natural gas emissions. Natural gas emissions have declined due to gas consumption at Nightingale House falling from 5.071 million kWh to 2.397 million kWh (53% reduction). This is linked to the one of the households at Nightingale House being closed for refurbishment and a longer period of warmer weather.

The chart shows that natural gas consumption represents 57% of the total emissions, whilst electricity consumption represents a further 42% of the emissions. Therefore, site energy consumption contributes to the bulk of the total footprint at 99.3%. We have therefore developed our energy efficiency and sustainability policy to focus on:

• Measuring our carbon footprint:

We will continue to measure our carbon footprint and report this as part of the charity’s annual reports, annual review and on our website. Measuring our emissions will enable us to analyse our consumption levels and set SMART targets to reduce levels year on year.

• Going green:

We will seek ways of making our homes and offices more environmentally friendly such as choosing an energy provider that uses renewable energy or use low carbon alternatives where safe. As part of our property refurbishment programme, we will replace our fluorescents with LED lighting, install lighting controls and sensors and promote switching off lights when not needed. We will also encourage staff to switch off computers and any other appliances, improve our Heating, Ventilation and Air-Conditioning (HVAC) systems and look to re-schedule timing of some activities, where practicable, to conserve energy.

• Reduce, reuse, recycle:

We will recycle what we can, reduce what we use and reuse or upcycle items. We promote recycling by ensuring there are recycling bins around the homes and offices. We will also seek to move away from single use plastics as best as possible.

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REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED)

• Our Stakeholders:

We will maximise our residents’ access to the natural environment for the benefit of health and wellbeing. We will seek donors and partners with energy efficiency focus to support us on our journey to net zero carbon. Where net zero carbon emission cannot be achieved, we will invest in projects that allow the charity to offset its net emissions. We will ask our suppliers and contractors about how they are demonstrating their commitment to energy efficiency and sustainability as part of our procurement processes.

• Reduce your digital footprint:

We will endeavour to reduce our digital footprint too by assessing how environmentally friendly our website and digital products are, promoting a digital culture above print, using recycled papers for our printing and embracing other digital energy efficiency initiatives. We will embrace new technologies and enhance existing technologies wherever possible.

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REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED)

STATEMENT OF DIRECTORS’ RESPONSIBILITIES

The directors are responsible for preparing the report of the directors of the corporate trustee and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity, of the income and expenditure of the charity for that period.

In preparing these accounts, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The directors are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity’s governing document.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Director

Date of approval: 13[th] July 2023

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INDEPENDENT AUDITOR’S REPORT

Independent auditor’s report to the directors of the corporate trustee of Nightingale Hammerson

Opinion

We have audited the accounts of Nightingale Hammerson (the ‘parent charity’) and its subsidiaries (the ‘group’) for the year ended 30 September 2022 which comprise the group and parent charity statement of financial activities, the group and charity balance sheets, the consolidated statement of cash flows, and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

• give a true and fair view of the state of the group’s and of the parent charity’s affairs as at 30 September 2022 and of their income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the accounts, we have concluded that the directors of the corporate trustee's use of the going concern basis of accounting in the preparation of the accounts is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.

Our responsibilities and the responsibilities of the directors of the corporate trustee with respect to going concern are described in the relevant sections of this report.

Other information

The directors of the corporate trustee are responsible for the other information. The other information comprises the information included in the annual report and consolidated accounts, other than the accounts and our auditor’s report thereon. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

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INDEPENDENT AUDITOR’S REPORT (CONTINUED)

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

• the information given in the report of the directors of the corporate trustee is inconsistent in any material respect with the accounts; or

• sufficient accounting records have not been kept by the parent charity; or

• the parent charity accounts are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of directors of the corporate trustee

As explained more fully in the directors’ responsibilities statement, the directors of the corporate trustee are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors of the corporate trustee determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the directors of the corporate trustee are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors of the corporate trustee either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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INDEPENDENT AUDITOR’S REPORT (CONTINUED)

Auditor’s responsibilities for the audit of the accounts (continued)

Our approach to identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; and

• we obtained an understanding of the legal and regulatory frameworks that are applicable to the group and parent charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011).

We assessed the susceptibility of the group and parent charity’s financial statements to material misstatement, including obtaining and understanding of how fraud might occur, by:

• making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• reviewed the new bad debt provision made in the year to ensure all transactions provided for were reasonable to provide for;

• carried out substantive testing of expenditure including the authorization thereof;

• tested journal entries to identify unusual transactions; and

• assessed whether judgements and assumptions made in determining the accounting estimate for the property valuations were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• review of the minutes of meetings of those charged with governance; and

• enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors of the corporate trustee and other management and the inspection of regulatory and legal correspondence, if any.

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INDEPENDENT AUDITOR’S REPORT (CONTINUED)

Auditor’s responsibilities for the audit of the accounts (continued)

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the directors of the corporate trustee, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the directors of the corporate trustee those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the directors of the corporate trustee as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott LLP

21 July 2023

Statutory Auditor 130 Wood Street

London

EC2V 6DL

Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 30 September 2022

	Unrestricted Funds
	General Fund Designated Fund Restricted Fund 2022 Total Funds 2021 Total Funds
Note	£'000 £'000 £'000 £'000 £'000
Income from:
Donations and legacies
Revenue purposes 2	2,729 - 184 2,913 2,284
Capital purposes 2	- - 196 196 1,669
Investments and short term deposits 3	333 - 48 381 334
Charitable activities
Provision of residential and nursing care 4	14,771 - - 14,771 10,365
Government's infection control and furlough grants	- - 396 396 613
Surplus on disposal of tangible fixed assets 14	846 - - 846 -
Other sources	106 - - 106 360
Total Income	18,785 - 824 19,609 15,625
Expenditure on:
Raising funds
Generating donations and legacies 5	508 - - 508 399
Investment management costs	170 - - 170 160
Charitable activities
Provision of residential and nursing care 6	18,074 1,844 1,137 21,055 15,536
Taxation 13	46 46
Total expenditure	18,798 1,844 1,137 21,779 16,095
Net income/(expenditure) for the year before transfers and gains/(losses) on investments	(13) (1,844) (313) (2,170) (470)
Transfers between funds 19	1,743 (111) (1,632) - -
Gains/(losses) on investments
Realised gains on disposal of investments 16	272 - - 272 350
Unrealised(losses)/gains on investments 16	(1,633) - - (1,633) 3,114
Net(expenditure) income for theyear	369 (1,955) (1,945) (3,531) 2,994
Other recognised gains and losses
Actuarialgains onpension scheme	502 - - 502 770
Net movement in funds	871 (1,955) (1,945) (3,029) 3,764
Funds brought forward at 1 October 2021	22,973 55,324 14,897 93,194 89,430
Funds carried forward 30 September 2022 21	23,844 53,369 12,952 90,165 93,194

The consolidated statement of financial activities includes the results of Nightingale Hammerson and Chalkford Limited.

All of the figures included in the above consolidated statement of financial activities derive from continuing activities of the charity and its subsidiaries.

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Trustees Report and Annual Accounts for Year Ended 30 September 2022

CHARITY STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 30 September 2022

Unrestricted Funds

	Unrestricted Funds
	General Fund Designated Fund Restricted Fund 2022 Total Funds 2021 Total Funds
Note	£'000 £'000 £'000 £'000 £'000
Income from:
Donations and legacies
Revenue purposes 2	2,678 - 184 2,862 2,526
Capital purposes 2	- - 196 196 1,669
Investments and short term deposits 3	333 - 48 381 339
Charitable activities
Provision of residential and nursing care 4	14,771 - - 14,771 10,365
Government's infection control and furlough grants	- - 396 396 613
Surplus on disposal of tangible fixed assets 14	846 - - 846 -
Other sources	99 - - 99 377
Total Income	18,727 - 824 19,551 15,889
Expenditure on:
Raising funds
Generating donations and legacies 5	508 - - 508 399
Investment management costs	170 - - 170 160
Charitable activities
Provision of residential and nursingcare 6	18,074 1,844 1,137 21,055 15,536
Total expenditure	18,752 1,844 1,137 21,733 16,095
Net income/(expenditure) for the year before transfers and gains/(losses) on investments	(25) (1,844) (313) (2,182) (206)
Transfers between funds 19	1,733 (101) (1,632) - -
Gains/(losses) on investments
Realised gains on disposal of investments 16	272 - - 272 350
Unrealised (losses)/gains on listed investments 16	(1,633) - - (1,633) 3,114
Net(expenditure) income for theyear	347 (1,945) (1,945) (3,543) 3,258
Other recognised gains and losses
Actuarialgains onpension scheme	502 - - 502 770
Net movement in funds	849 (1,945) (1,945) (3,041) 4,028
Funds brought forward at 1 October 2021	22,951 57,546 14,908 95,405 91,377
Funds carried forward 30 September 2022 21	23,800 55,601 12,963 92,364 95,405

All the figures included in the above statement of financial activities derive from continuing activities of the charity.

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BALANCE SHEET

As at 30 September 2022

	2022 2021
	Group Charity Group Charity
Note	£'000 £'000 £'000 £'000
Fixed assets
Tangible assets 14	49,426 51,664 52,056 54,291
Investments 16	27,271 27,272 28,441 28,442
	76,697 78,936 80,497 82,733
Current assets
Debtors 17	3,314 3,879 3,888 4,531
Short term deposits	8,014 8,014 4,518 4,518
Cash at bank and in hand	3,202 3,185 5,351 5,312
	14,530 15,078 13,757 14,361
Creditors:
amount falling due within one year 18	(3,480) (4,068) (2,976) (3,605)
Net current assets	11,050 11,010 10,781 10,756
Total assets less current liabilities	87,747 89,946 91,278 93,489
Pension scheme asset 23	2,418 2,418 1,916 1,916
Total net assets	90,165 92,364 93,194 95,405
Funds and reserves
Charitable funds
Restricted funds 19	12,952 12,963 14,897 14,907
Unrestricted funds
Designated funds
Hammerson House building fund 20	- - - -
Nightingale House building fund 20	8,500 8,500 8,500 8,500
Maintenance fund 20	3,500 3,500 3,500 3,500
Tangible fixed assets fund 20	41,376 43,601 43,324 45,546
	53,376 55,601 55,324 57,546
General fund	21,419 21,382 21,057 21,036
Pension reserve 23	2,418 2,418 1,916 1,916
21	90,165 92,364 93,194 95,405

Approved by the directors of the corporate trustee And signed on their behalf by:

Director of corporate trustee Approved on: 13[th] July 2023

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Trustees Report and Annual Accounts for Year Ended 30 September 2022

CONSOLIDATED STATEMENTS OF CASH FLOW

For the year ended 30 September 2022

		2022	2021
		£'000	£'000
Cash flows from operating activities
Net Cash (used in) provided by operating activities	A	(1,354)	335
Cash flows from investing activities
Investment income		381	347
Income from capital fundraising		1,560	3,806
Purchase of tangible fixed assets		(549)	(9,585)
Proceeds from disposal of tangible fixed assets		1,500	-
Proceeds from disposal of investments		5,729	6,348
Purchase of investments		(5,670)	(6,342)
Net cash provided by (used in) investment activities		2,951	(5,426)
Change in cash and cash equivalents in the year		1,597	(5,091)
Cash and cash equivalents at 1 October 2021		10,530	15,621
Cash and cash equivalents at 30 September 2022	B	12,127	10,530

Notes to the consolidated statement of cash flows for the year to 30 Sept 2022

A Reconciliation of net movement in funds to net cash (used in) provided by operating activities

			2022	2021
			£'000	£'000
	Net movements in funds (as per the statement of financial activities)		(3,029)	3,764
	Adjustments for:
	Depreciation charge		2,526	1,840
	Surplus on disposal of tangible fixed assets		(846)	-
	Losses (gains) on investments		1,361	(3,464)
	Investment income		(381)	(334)
	(Increase) decrease in value of pension asset		(502)	(770)
	Income from capital fundraising		(196)	(1,669)
	Increase in debtors		(791)	(173)
	Increase in creditors		504	1,141
	Net cash(used in) provided by operating activities		(1,354)	335

B Analysis of cash and cash equivalents

					2022		2021
					£'000		£'000
	Cash at bank and in hand				3,202		5,351
	Short term deposits				8,014		4,518
	Cash held with investment managers				911		661
	Total cash and cash equivalents				12,127		10,530

No separate reconciliation of net debt has been prepared as there is no difference between the net cash (debt) of the group and the above cash and cash equivalents.

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Trustees Report and Annual Accounts for Year Ended 30 September 2022

NOTES TO THE FINANCIAL STATEMENTS

1. PRINCIPAL ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared for the year to 30 September 2022 with comparative information given in respect to the year to 30 September 2021.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and rounded to the nearest thousand pounds.

Going Concern

The directors, after reviewing the charity’s financial performance, operating budget, investment plans, fundraising strategy and financial forecasts, consider that the charity have sufficient funding to continue to provide residential, nursing, dementia and palliative care for the foreseeable future. Given the impact of Covid-19 on the charity, the directors have assessed the prospects of the charity over a three-year period to September 2025. This has taken into account the business models, strategic aims, risks and mitigations of the micro and macro-economic factors as affecting the charity. Based on this assessment, the directors continue to adopt the going concern basis in preparing the accounts.

In determining the going concern basis of preparing the accounts for the year ended 30 September 2022, the directors are required to consider whether the charity can continue in operational existence for a period of at least 12 months from the approval of the accounts. As at 30 September 2022, the total assets less current liabilities of the group were £88m while the total net assets were £90m. Liquidity as at that date was £12.1m made up of £3.2m cash and cash equivalents, £8.0m of short term deposits and £0.9m cash held with investment managers. The increase in liquidity from prior year reflects the withdrawal of cash from our investment portfolios to allow for future capital plans and in response to the deficit budget.

In addition to the increased operational growth capacity, the charity:

• does not have or intend to have long term borrowings over the assessed period. Gearing ratio and interest cover is nil

• Generated £1.5m proceeds from the disposal of Belmont Lodge

• Reviewed its fundraising plan for 2022-23, with plans for a large fundraising event in November 2023.

• Has an investment portfolio, including investment property, of £27.3m as at 30 September 2022.

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NOTES TO THE FINANCIAL STATEMENTS

1. PRINCIPAL ACCOUNTING POLICIES (continued)

The operating model included some downside scenarios such as occupancy numbers falling below budget, higher pay rates, higher costs or lower fundraising income than projected. The impact of the downside scenarios were reviewed against the charity’s projected cash position and investments. Should the worst case scenario occur, mitigating actions will include divesting part of the charity’s investments to maintain the ideal liquidity level and financially viable in the going concern assessment period.

Basis of consolidation

The statement of financial activities and balance sheet consolidate the accounts of the charity and its group undertakings (listed below) made up to the balance sheet date.

• Chalkford Limited, a UK trading subsidiary which is a property construction company.

• Friends of Nightingale House, a charitable trust no longer operational but having had the purpose of raising funds on behalf of Nightingale Hammerson.

Intra-group transactions are eliminated in full.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the directors of the corporate trustee and management to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

• assessing the probability of the receipt of legacy income

• estimating accrued expenditure

• determining the apportionment of expenditure between governance and support costs and between support costs and the various categories of expenditure

• estimating the useful economic life of tangible fixed assets for the purposes of determining a depreciation charge

• estimating the market value of investment property

• assessing the recoverability of outstanding debtors for residential and care home fees

• assessing the appropriateness of the assumptions made by the actuary in arriving at the actuarial valuation of the charity’s defined benefit pension scheme

• determining the value of designated funds set aside at the year end.

Income recognition

Income is recognised in the period in which the group and/or charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1. Principal Accounting Policy (continued)

The group’s main income source of income is from its charitable activities including care home residential, dementia and nursing fee income. Other income sources include donations, legacies, income from fundraising events, income from investments and interests from short term bank deposits and other sources.

Donations are recognised when the charity and/or group has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amounts are only accrued once formal pledge agreements are in place; if no such agreements exist the donations are recognised on receipt. In the event that a donation is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacies are included in the statement of financial activities when the Charity is entitled to the legacy, the amount can be reasonably estimated, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the Charity.

Entitlement is taken as the earlier of the date on which the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured, or estimated, reliably and the Charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity and/or group, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the Charity.

Investment income is recognised once the dividend or similar income has been declared and notification has been received of the amount due.

Interest on funds held on short term deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Interest on fixed interest, fixed term deposits is recognised evenly across the deposit term.

Fees for residential and nursing care are recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be reliably measured. They are measured at the fair value of the consideration received or receivable based on agreements with residents and funding agencies, excluding any relevant value added tax.

Income from other sources is measured at fair value and on an accruals basis.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1. Principal Accounting Policy (continued)

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings as described in Note 7. The classification between activities is as follows:

• Expenditure on raising funds includes: the salaries, direct costs and overheads associated with generating donated income and legacies; the fees paid to investment managers in connection with maintaining the portfolio of listed investments; and the expenditure of the Charity’s trading subsidiary in the UK.

• Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity through the provision of charitable activities i.e. the provision of holistic quality care to older Jewish people. This includes expenditure on residential and nursing care and the depreciation of those assets used for care purposes.

All expenditure is stated inclusive of irrecoverable VAT.

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the Charity, it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprise the costs involving the public accountability of the Charity (including audit costs) and costs in respect to its compliance with regulation and good practice. Support costs and governance costs are apportioned based on the allocation basis as described in Note 7 to these accounts.

Tangible fixed assets

All items of furniture, fittings and equipment with a value in excess of £10,000 and which have an expected useful life exceeding one year are capitalised and depreciated. Depreciation is not charged on buildings under construction or on freehold land. The depreciation charges applied to assets on a straight line basis over their estimated useful life are as below:

Property (Freehold and Leasehold):	Development substructure	100 years
	Development super structure	65 years
	Freehold property	25 to 50 years
	Development external works	30 years
	Development Mechanical and Engineering	25 years
	Development finishes, fittings (not loose)	20 years
	Café and kitchen	15 years
Plant:	Plant	10 years
Furniture, Equipment & Vehicles:	Loose fixtures and fittings	5 years
	Motor vehicles	4 years

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1. Principal Accounting Policy (continued)

Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The charity does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

Properties held for investment are included in the accounts at their estimated current market value as determined by the directors of the corporate trustee after consultation with their professional property advisers.

Investments in UK trading subsidiaries are included in the accounts at cost with provision being made for any permanent diminution in value.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment. Cash held by investment managers as part of their management strategy is included in fixed asset investments.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1. Principal Accounting Policy (continued)

Fund structure

The general fund comprises those monies which may be used towards meeting the charitable objectives of the charity and which may be applied at the discretion of the directors.

The designated funds are monies or assets set aside out of general funds and designated for specific purposes by the directors.

The tangible fixed assets fund represents the net book value of the tangible fixed assets used for the support of the work of the charity and/or group.

The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor imposed conditions.

Non-charitable trading funds consist of the retained assets of activities conducted through noncharitable trading subsidiary.

Pension contributions

The charity has a defined benefits pension scheme which is closed to new members. The assets of the scheme are held and managed separately from those of the charity. Pension scheme assets are measured at fair value at each balance sheet date. Liabilities are measured on an actuarial basis using the projected unit method. The net of these two figures is recognised as an asset or liability on the balance sheet. Any change in the asset or liability between balance sheet dates is reflected in the statement of financial activities in recognised gains and losses for the period.

The charity also contributes to the defined contributions scheme and contributions to the scheme are charged to the statement of financial activities in the year in which they are payable to the scheme.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

2. INCOME FROM DONATIONS AND LEGACIES

	General	Restricted	2022 Total	2021 Total
Group	Fund	Fund	Funds	Funds
	£'000	£'000	£'000	£'000
Donations:
Revenue donations	1,704	184	1,888	1,386
Hammerson House capital fund	-	196	196	1,669
Legacies
Revenue donations	1,025	-	1,025	898
2022 Total Funds	2,729	380	3,109	3,953
2021 Total Fund	2,104	1,849	3,953

	General	Restricted	2022 Total	2021 Total
	Fund	Fund	Funds	Funds
Charity	£'000	£'000	£'000	£'000
Donations:
Revenue donations	1,653	184	1,837	1,628
Hammerson House capital fund	-	196	196	1,669
Legacies
Revenue donations	1,025	-	1,025	898
2022 Total Funds	2,678	380	3,058	4,195
2021 Total Fund	2,346	1,849	4,195

3. INCOME FROM INVESTMENTS

	General	Restricted	2022 Total	2021 Total
	Fund	Fund	Funds	Funds
Group	£'000	£'000	£'000	£'000
Income from listed investments by fund manager
Investment Income Veritas	98	-	98	96
Investment Income Schroders	142	48	190	186
	240	48	288	282
Rental income	8	-	8	8
Interest receivable	85	-	85	44
2022 Total Funds	333	48	381	334
2021 Total Fund	290	44	334

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

3. INCOME FROM INVESTMENTS (CONTINUED)

	General	Restricted	2022 Total	2021 Total
	Fund	Fund	Funds	Funds
Charity	£'000	£'000	£'000	£'000
Income from listed investments by fund manager
Investment Income Veritas	98	-	98	96
Investment Income Schroders	142	48	190	186
	240	48	288	282
Rental income	8	-	8	8
Interest receivable	85	-	85	49
2022 Total Funds	333	48	381	339
2021 Total Fund	295	44	339

4. INCOME FROM PROVISION OF RESIDENTIAL CARE AND NURSING

	General Fund Restricted Fund 2022 Total Funds 2021 Total Funds
Group and charity	£'000 £'000 £'000 £'000
Maintenance contributions receivable	14,771 - 14,771 10,365
Total maintenance contributions receivable	14,771 - 14,771 10,365

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

5. EXPENDITURE ON GENERATING DONATIONS AND LEGACIES

General Fund Designated Fund Restricted Fund 2022 Total Funds 2021 Total Funds	General Fund Designated Fund Restricted Fund 2022 Total Funds 2021 Total Funds
Group and Charity £'000 £'000 £'000 £'000	£'000
Staff costs 227 - - 227	208
Fundraising, legacy and appeal expenses 249 - - 249	163
Support costs(Note 7) 32 - - 32	28
2022 Total Funds 508 - - 508	399
2021 Total Fund 399 - - 399

6. EXPENDITURE ON PROVISION OF RESIDENTIAL CARE AND NURSING

	General	Designated	Restricted	2022 Total	2021 Total
	Fund	Fund	Fund	Funds	Funds
Group	£'000	£'000	£'000	£'000	£'000
Staff costs	10,919	-	405	11,324	8,378
Catering and food	1,776	-	-	1,776	1,221
Premises day to day costs	2,257	-	-	2,256	1,479
Medical, care and welfare costs	817	-	50	867	547
Support costs (Note 7)	2,305	-	-	2,305	2,071
Depreciation(Note 14)	-	1,844	682	2,526	1,840
2022 Total Funds	18,074	1,844	1,137	21,055	15,536
2021 Total Fund	13,100	1,159	1,277	15,536

	General	Designated	Restricted	2022 Total	2021 Total
	Fund	Fund	Fund	Funds	Funds
Charity	£'000	£'000	£'000	£'000	£'000
Staff costs	10,919	-	405	11,324	8,378
Catering and food	1,776	-	-	1,776	1,221
Premises day to day costs	2,257	-	-	2,256	1,479
Medical, care and welfare costs	817	-	50	867	547
Support costs (Note 7)	2,305	-	-	2,305	2,071
Depreciation(Note 14)	-	1,844	682	2,526	1,840
2022 Total Funds	18,074	1,844	1,137	21,055	15,536
2021 Total Fund	13,100	1,159	1,277	15,536

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

7. SUPPORT COSTS

The support costs and the basis of their allocation were:

	Generating donations and legacies Provisions of residential and nursing care Total Basis of apportionment
Group and Charity	£'000 £'000 £'000
Support Staff Cost	16 1,163 1,179 Head count
Administrative and Governance costs	3 261 264 Head count
Information and Communication Technology	4 263 267 Head count
Insurance	4 271 275 Head count
Human Resources and Volunteering	5 347 352 Head count
2022 Total - Group and Charity	32 2,305 2,337

8. UK TRADING SUBSIDIARY

Nightingale Hammerson owns the entire called up ordinary share capital of Chalkford Limited, a property construction company (company registration number 01001396).

	2022 2021
	£'000 £'000
Chalkford Limited
Turnover	30 5,718
Cost of sales	(24) (5,450)
Administrative expenses	(3) (21)
Operating profit	3 247
Interestpayable	- (5)
Profit before Gift Aid	3 242
Amount donated to Nightingale Hammerson	(3) (242)
Gift aid adjustment in respect to earlierperiods	55 -
Profit on ordinaryactivities before taxation	55 -
Taxation	(46) -
Retained profit	9 -

At 30 September 2022, Chalkford Limited had retained profits of £8k (2021: retained losses of £1k) and called up share capital of £1k (2021: £1k). The results and the balance sheet figures have been consolidated on a line by line basis within the accounts of Nightingale Hammerson.

After consulting with their professional advisers and the Charity Commission, the trustees of the parent charity gave the company permission to waive £55k of the gift aid committed in 2021. This was necessary following an administrative error relating to the payment of the 2021 gift aid which has resulted in the company incurring a tax charge. The waiver is considered to be in the best interests of both the parent charity and the company.

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Trustees Report and Annual Accounts for Year Ended 30 September 2022

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

9. NET (EXPENDITURE) INCOME FOR THE YEAR

This is stated after charging:

This is stated after charging:	This is stated after charging:
General Fund Designated Fund Restricted Fund 2022 Total Funds 2021 Total Funds
Group £'000 £'000 £'000 £'000	£'000
Staff costs (Note 10) 12,403 - 405 12,808	9,796
Auditor's remuneration:
Audit services- relating to current year 34 - - 34	34
Audit services- relating to prior year - - - -	8
Other services 5 - - 5	5
Depreciation (Note 14) - 1,844 682 2,526	1,840
General Fund Designated Fund Restricted Fund 2022 Total Funds 2021 Total Funds
Charity £'000 £'000 £'000 £'000	£'000
Staff costs (Note 10) 12,403 - 405 12,808	9,796
Auditor's remuneration:
Audit services- relating to current year 31 - - 31	31
Audit services- relating to prior year 8 - - 8	8
Other services 4 - - 4	4
Depreciation (Note 14) - 1,844 682 2,526	1,840

10. STAFF COSTS

	2022	2021
Group and charity	£'000	£'000
Wages and salaries	9,273	7,984
Social security costs	889	734
Other Pension costs	231	222
	10,393	8,940
Payments to agency	2,413	832
Redundancycosts	2	24
	12,808	9,796

Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2022

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

10. STAFF COSTS (Continued)

Of payments to agency staff, £799k (2021: £520k) represents payments in respect of one to one care provision. These costs were covered by one to one care fee income.

The number of employees who earned £60,000 per annum or more (including taxable benefits but excluding employer's pension contributions) were as follows:

	2022	2021
£60,000 - £70,000	2	3
£70,001 - £80,000	3	-
£80,001 - £90,000	1	2
£90,001 - £100,000	2	1
£110,001 - £120,000	-	1

Of those employees who earned £60,000 or more during the year (as defined above), employer contributions totalling £28,092 (2021: £33,321) were made to defined contribution schemes in respect of seven (2021: six) of them. No contributions were made to defined benefit schemes (2021: £nil).

The total remuneration, including benefits, employers pension contributions and employer’s national insurance contributions, paid to key management personnel in the year was £576k (2021: £535k).

The average number of employees, excluding agency staff, analysed by function, was:

	2022 2021
Generating funds	6 4
Residential and nursingcare services	396 342
	402 346

11. TRUSTEES’ REMUNERATION AND EXPENSES

No director received any remuneration or expenses from the group or charity during the year (2021 - £nil).

The nature of the charity’s activities means that from time to time relatives of the directors of the corporate trustee or staff may be cared for by the Charity. In 2022, one director of the corporate trustee had a relative cared for by the charity and all fees were set at arm’s length (2021: one).

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

12. TRUSTEES’ INDEMNITY INSURANCE

The insurance provides cover up to £5 million (2021 - £5 million) and the total premium paid in respect of such insurance was £36k (2021 - £39.2k). The cost of this insurance is included in the total insurance cost.

13. TAXATION

Nightingale Hammerson is a registered charity and therefore not liable to income tax or capital gains tax on income or gains derived from their charitable activities, as they fall within the various exemptions available to registered charities.

Chalkford Limited donates any taxable profits to Nightingale Hammerson via Gift Aid each year. However due to an administrative error relating to the 2021 gift aid payment, Chalkford has incurred a tax charge of £46k.

14. TANGIBLE FIXED ASSETS

				Furniture,
	Freehold	Leasehold		Equipment
	Property	Property	Plant	and Vehicles	2022 Total
Group	£'000	£'000	£'000	£'000	£'000
Cost
At 1 October 2021	46,098	38,766	1,753	3,421	90,038
Additions	126	152	51	221	550
Disposals	(851)	-	-	(76)	(927)
At 30 September 2022	45,373	38,918	1,804	3,566	89,661
Depreciation
At 1 October 2021	34,960	610	756	1,656	37,982
Charge	797	1,114	176	439	2,526
Disposals	(197)	-	-	(76)	(273)
At 30 September 2022	35,560	1,724	932	2,019	40,235
Net book values
At 30 September 2022	9,813	37,194	872	1,547	49,426
At 30 September 2021	11,136	38,157	997	1,765	52,056

No value has been attributed to the leasehold land of the Hammerson House, Wohl Campus, site as lease covenants require its use as a residential care facility.

Belmont Lodge was sold on 1[st] November 2021 for sales proceeds of £1.5m.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

14. TANGIBLE FIXED ASSETS (CONTINUED)

				Furniture,
	Freehold	Leasehold		Equipment
	Property	Property	Plant	and Vehicles	2022 Total
Charity	£'000	£'000	£'000	£'000	£'000
Cost
At 1 October 2021	46,097	40,989	1,814	3,462	92,362
Additions	126	156	52	221	555
Disposals	(851)	-	-	(76)	(927)
At 30 September 2022	45,372	41,145	1,866	3,607	91,990
Depreciation
At 1 October 2021	34,960	634	782	1,695	38,071
Charge	796	1,115	177	440	2,528
Disposals	(197)	-	-	(76)	(273)
At 30 September 2022	35,559	1,749	959	2,059	40,326
Net book values
At 30 September 2022	9,813	39,396	907	1,548	51,664
At 30 September 2021	11,137	40,355	1,032	1,768	54,291

15. FINANCIAL COMMITMENTS

At 30 September 2022, the charity had £4m financial commitment that had been authorised but not contracted for to refurbish Nightingale House (2021: £4m). There was no financial commitment contracted for but which had not been provided for (2021 – £nil).

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

16. FIXED ASSET INVESTMENTS

	Investment	Listed	2022	2021
	Property	Investments	Total	Total
Group	£'000	£'000	£'000	£'000
Market value at 1 October 2021	330	27,450	27,780	24,319
Additions at cost	-	5,670	5,670	6,342
Disposals at book value (proceeds:£5.73m
with realised gain of £0.27m)	-	(5,457)	(5,457)	(5,995)
Net unrealised investment(losses)/gains	(33)	(1,600)	(1,633)	3,114
Market value at 30 September 2022	297	26,063	26,360	27,780
Cash awaiting investment		911	911	661
Market value at 30 September 2022	297	26,974	27,271	28,441
Cost of Investments at 30 September 2022	238	21,176	21,414

	Shares in
	subsidiary	Investment	Listed	2022	2021
	company	Property	Investments	Total	Total
Charity	£'000	£'000	£'000	£'000	£'000
Market value at 1 October 2021	1	330	27,450	27,781	24,320
Additions at cost	-	-	5,670	5,670	6,342
Disposals at book value (proceeds:£5.73m
with realised gain of £0.27m)	-	-	(5,457)	(5,457)	(5,995)
Net unrealised investment(losses)/gains	-	(33)	(1,600)	(1,633)	3,114
Market value at 30 September 2022	1	297	26,063	26,361	27,781
Cash awaiting investment			911	911	661
Market value at 30 September 2022	1	297	26,974	27,272	28,442
Cost of Investments at 30 September 2022	1	238	21,176	21,415	21,415

Listed Investments

All listed investments are dealt in on a recognised stock exchange.

Listed investments held at 30 September 2022 comprised the following:

	Listed Investments 2022 Total 2021 Total 2021 Total
Group and Charity	% £'000 £'000 %
Fixed Interest	18% 4,855 5,060 18%
Equities	69% 18,612 19,397 69%
Alternatives	9% 2,428 2,530 9%
Multi-assets funds	1% 168 463 2%
Cash Instalments and unit funds	3% 911 661 2%
	100% 26,974 28,111 100%

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

16. FIXED ASSET INVESTMENTS (CONTINUED)

At 30 September 2022, the following investment holding had a material value when compared to the market value of the total portfolio of listed investments as at that date.

	Listed Investments 2022 Total 2021 Total 2021 Total
	Group and Charity % £'000 £'000 %
	Vanguard FTSE All-World UCITS ETF 4.7% 1,273 1,273 4.5%

Investment property

Investment property comprises of a long leasehold flat in a property situated in North London purchased by the charity during the year ended 30 September 2014. The directors of the corporate trustee have valued the property based upon information publicly available relating to similar properties in the same location.

Subsidiary Undertaking

At 30 September 2022, Nightingale Hammerson owned the entire called up share capital of the following company:

Company	Country of incorporation	Principal activity during theyear
Chalkford Limited	England	Property development

17. DEBTORS

	2022 2021
	Group Charity Group Charity
	£'000 £'000 £'000 £'000
Maintenance contributions	2,544 2,544 1,345 1,345
Amount due from subsidiary undertaking (Note 24)	- 592 - 643
Legacies receivable	80 80 669 669
Donations pledged	339 339 1,522 1,522
Other debtors	237 225 265 265
Prepayments	71 71 53 53
VAT debtor	43 28 34 34
	3,314 3,879 3,888 4,531

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18. CREDITORS – AMOUNT FALLING DUE WITHIN ONE YEAR

	2022 2021
	Group Charity Group Charity
	£'000 £'000 £'000 £'000
Amounts held on behalf of residents	922 923 670 670
Maintenance contributions received in advance	397 397 517 517
Expense creditors	226 226 399 399
Social security and other taxation	291 246 219 219
Other creditors	39 51 66 66
Accruals	1,604 992 1,105 498
Amount due to subsidiaryundertaking (Note 24)	- 1,233 - 1,236
	3,480 4,068 2,976 3,605

19. RESTRICTED FUNDS

The income funds of the group and charity include restricted funds comprising the following balances of donations and grants held on trusts to be applied for specific purposes:

	At 1 October 2021 Income Expenditure Transfer At 30 September 2022
Group	£'000 £'000 £'000 £'000 £'000
Nightingale House Fixed Assets Fund	8,731 - (682) - 8,049
Nightingale House Capital Fund	600 - - - 600
Hammerson House Capital Fund	1,522 196 - (1,561) 157
Weinberg Funds	3,263 47 - - 3,310
Donations Special Purpose	472 142 (50) (160) 404
Janet and Howard Bloch funds	233 - - - 233
Intergenerational fund	31 15 (8) - 38
Infection control Grant	- 396 (396) - -
Other restricted funds	45 28 (1) 89 161
	14,897 824 (1,145) (1,632) 12,952

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

19. RESTRICTED FUNDS (continued)

	At 1 October 2021 Income Expenditure Transfer At 30 September 2022
Charity	£'000 £'000 £'000 £'000 £'000
Nightingale House Fixed Assets Fund	8,745 - (682) - 8,063
Nightingale House Capital Fund	600 - - - 600
Hammerson House Capital Fund	1,522 196 - (1,561) 157
Weinberg Funds	3,263 47 - - 3,310
Donations Special Purpose	472 142 (50) (160) 404
Janet and Howard Bloch funds	232 - - - 232
Nursery fund	- - - - -
Intergenerational fund	31 15 (8) - 38
Infection control Grant	- 396 (396) - -
Other restricted funds	43 28 (1) 89 159
	14,908 824 (1,145) (1,632) 12,963

Nightingale House Fixed Assets Fund

This fund comprises the net book value of buildings and equipment used for the operation of Nightingale House, purchased with restricted funds. Each year the depreciation on these assets is charged to the fund.

Nightingale House Capital Fund

This fund comprises monies donated specifically towards the construction and development of new building projects on the site of Nightingale House which are as yet unspent.

Hammerson House Capital Fund

This fund comprise donations pledged specifically for the redevelopment of Hammerson House and as yet unspent.

Weinberg Funds

These funds were donated by The Harry and Jeanette Weinberg Fund and are held for the purpose of substantially upgrading the charity’s care homes for the elderly at both Nightingale House and Hammerson House.

Donations Special Purpose

These funds comprise donations received towards a specific purpose.

Janet and Howard Bloch funds

These funds comprise monies to be used to provide additional services for the residents, specifically in terms of activities, and the provision of training.

Nursery Fund

This fund comprises the proportion of the construction costs of the Apples & Honey Nursery building that have been funded by Apples & Honey. Depreciation on the nursery building is charged to the fund each year.

Intergenerational Fund

This comprises monies received specifically for operation of the intergenerational programme. Infection control Grant

Government grant received to provide support with Covid-19 infection control costs

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

20. DESIGNATED FUNDS

The income funds of the group and charity include the following designated funds which have been set aside for major capital projects:

	At 1 October 2021 New designations and transfers Utilised / released At 30 September 2022
Group	£'000 £'000 £'000 £'000
Hammerson House building fund	- 1,415 (1,415) -
Nightingale House building fund	8,500 - - 8,500
Maintenance fund	3,500 - - 3,500
	12,000 1,415 (1,415) 12,000
Hammerson House tangible fixed assets fund	38,507 152 (1,674) 36,985
Nightingale House tangible fixed assets fund	4,817 398 (824) 4,391
	55,324 1,958 (3,913) 53,376
	At 1 October 2021 New designations and transfers Utilised / released At 30 September 2022
Charity	£'000 £'000 £'000 £'000
Hammerson House building fund	- 1,404 (1,404) -
Nightingale House building fund	8,500 - - 8,500
Maintenance fund	3,500 - - 3,500
	12,000 1,404 (1,404) 12,000
Hammerson House tangible fixed assets fund	40,357 156 (1,674) 38,839
Nightingale House tangible fixed assets fund	5,189 397 (824) 4,762
	57,546 1,957 (3,902) 55,601

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

20. DESIGNATED FUNDS (CONTINUED)

Hammerson House building fund

This was fund set aside by the directors for the redevelopment of Hammerson House, Wohl Campus. This was duly allocated or released at the year-end given the completion of Hammerson House, Wohl Campus development

Nightingale House building fund

This comprises monies set aside by the directors to provide funds for redevelopment at Nightingale House.

Maintenance fund

This comprises monies set aside by the directors to provide funds for the ongoing building maintenance of our homes.

Hammerson House tangible fixed assets fund

This fund comprises the net book value of the fixed assets related to Hammerson House, used for the operation and designated. Every year, depreciation charges is allocated against this fund.

Nightingale House tangible fixed assets fund

The tangible fixed assets fund comprises the net book value of the charity’s tangible fixed assets (excluding those accounted for the Nightingale House Fixed Assets Restricted Fund). A decision was made by the directors to separate this fund from the general fund in recognition of the fact that the tangible fixed assets are used in the day to day work of the charity and group and hence the fund value would not be easily realisable if needed to meet future contingencies.

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

General funds Designated funds Restricted funds 2022 Total	General funds Designated funds Restricted funds 2022 Total
Group £'000 £'000 £'000 £'000
Fund balances at 30 September 2022 are represented by:
Tangible fixed assets	- 41,377 8,049 49,426
Investments	23,961 - 3,310 27,271
Current assets	945 11,992 1,593 14,530
Current liabilities	(3,480) - - (3,480)
Pension scheme asset	2,418 - - 2,418
Total net assets	23,844 53,369 12,952 90,165

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)

General funds Designated funds Restricted funds 2022 Total	General funds Designated funds Restricted funds 2022 Total
Charity £'000 £'000 £'000 £'000
Fund balances at 30 September 2022 are represented by:
Tangible fixed assets	- 43,602 8,062 51,664
Investments	23,962 - 3,310 27,272
Current assets	1,488 11,999 1,591 15,078
Current liabilities	(4,068) - - (4,068)
Pension scheme asset	2,418 - - 2,418
Total net assets	23,800 55,601 12,963 92,364

22. ANALYSIS OF UNREALISED GAINS / LOSSES

	General funds Designated funds Restricted funds 2022 Total
Group and Charity	£'000 £'000 £'000 £'000
Accumulated gains on listed investments	5,095 - 702 5,797
Accumulatedgains onproperty	59 - - 59
Total	5,154 - 702 5,856
Reconciliation of movements in unrealised gains (losses)
Unrealised gains at 1 October 2021	6,232 - 795 7,027
Less: cumulative unrealised losses released from disposals	406 - 56 462
Add: Net unrealised gains on listed investments unrealised gains in year	(1,439) - (194) (1,633)
Reallocation between funds inyear	(45) 45 -
Accumulated unrealised gains	5,154 - 702 5,856

23. PENSION COMMITMENTS

Nightingale Hammerson operates a defined benefit scheme for certain former employees, providing benefits based on final pensionable pay. It also contributes to personal pension plans for current employees.

The defined benefit scheme is a separate trustee administered fund holding the pension scheme assets to meet long term pension liabilities. A full actuarial valuation was carried out at 31 March 2020 and updated to 30 September 2022 by a qualified actuary and in line with FRS 102. The major assumptions used by the actuary are shown below.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

23. PENSION COMMITMENTS (CONTINUED)

This most recent actuarial valuation showed a shortfall of £15,000 (2021: shortfall of £15,000). However, no additional contributions were required to correct the shortfall. This is because it was estimated that the Scheme was in surplus at the date of recovery plan. As there are no active members accruing benefits within the scheme, no further contributions are payable. The employer has agreed to meet all expenses of the scheme and levies to the Pension Protection Fund, other than investment management charges which are borne by the Scheme.

Present values of defined benefit obligation, fair value of assets and defined benefit asset	2022 £’000 2021 £’000
Fair value of plan assets Present value of defined benefit obligation Defined benefit asset at 30 September	4,870 5,507 (2,452) (3,591)
	2,418 1,916

Reconciliation of opening and closing balances of the defined benefit obligation	2022 £’000 2021 £’000
Defined benefit obligation at start of period Interest expense Actuarial losses Benefits paid and expenses Defined benefit obligation at end of period	3,591 3,961 70 62 (1,020) (309) (189) (123)
	2,452 3,591

Reconciliation of opening and closing balances of the fair value of plan assets	2022 £’000	2021 £’000
Fair value of plan assets at start of period Interest income Actuarial (losses) / gains Benefits paid and expenses Fair value ofplan assets at end ofperiod	5,507 108 (556) (189) 4,870	5,107 81 442 (123)
		5,507

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

23. PENSION COMMITMENTS (CONTINUED)

The actual return on the plan assets over the period ended 30 September 2022 was (£448k) (2021: £523k).

Defined benefit costs recognised in other comprehensive income	At 30 September 2022 £’000 At 30 September 2021 £’000
(Losses)/gains on plan assets (excluding amounts included in net interest cost) Experience (losses)/gaina arising on plan liabilities Gain resulting from changes in the demographic and financial assumptions underlying the present value of plan liabilities Losses from changes in the amount of surplus that is not recoverable (excluding amounts included in net interest cost Total gain recognised in other comprehensive income Assets	(556) 442 (103) 316 1,123 (7) (464) (751)
	- -
	At 30 September 2022 £’000 At 30 September 2021 £’000
Cash and cash equivalents Equity instruments Debt instruments Other Total Assets	(19) 70 2,923 3,313 1,544 1,740 422 384
	4,870 5,507

None of the fair values of the assets shown above include any direct investments in the employer’s own financial instruments or any property occupied by, or other assets used by, the employer.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

23. PENSION COMMITMENTS (CONTINUED)

	At 30		At 30
September		September
	2022		2021
Assumptions	%		%
Discount Rate	5.40		2.00
Inflation (RPI)	3.80		3.60
The mortality assumptions adopted at 30 September 2022 imply the following life	2022		2021
expectancies at age 65:
Retiring today / current pensioners
Males	22.4		22.3
Females	24.2		24.1
Retiring in 20 years / future pensioners
Males	23.7		23.6
Females	25.6		25.6

The best estimate of contributions to be paid by the employer to the scheme for the period commencing 1 October 2022 is £nil (2021: £nil). Any expenses of the scheme, other than investment management costs, are expected to be met directly by the employer or reimbursed by the employer if paid by the scheme.

Personal Pension Plans and auto enrolment Schemes

The total pension cost in respect to personal pension plans and auto enrolment schemes for the year was £0.23m (2021 - £0.22m).

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

24. RELATED PARTY TRANSACTIONS

Chalkford Limited

Chalkford Limited became a wholly owned subsidiary of Nightingale House on 2 March 2004 and continues as a wholly owned subsidiary of Nightingale Hammerson post-merger. Two directors of Nightingale Hammerson Trustee Company Limited, Harvey Rosenblatt and David Winton are also directors of Chalkford Limited.

Chalkford Limited made charitable contributions of £3k to Nightingale Hammerson during the year to 30 September 2022 (2021 - £0.24m). During the year, the trustees agreed to waive 55k of the gift aid which was committed by Chalkford Limited in 2021 to Nightingale Hammerson (2021 - £nil). At 30 September 2022 Chalkford Limited owed Nightingale Hammerson £nil (2021: £0.40m) in accordance with a loan facility and a further £0.19m (2021: £0.24m) being charitable contributions payable to Nightingale Hammerson in respect to the year ended 30 September 2021 and 30 September 2022. At 30 September 2022, Nightingale Hammerson owed Chalkford Limited £1.23m (2021: £1.24m) under a contract for the construction of property.

Camden Jewish Society

Camden Jewish Society was amalgamated into Nightingale Hammerson under a deed of collaboration on 1 May 2015 and remains as such. On 31 December 2017, the activities, assets and liabilities of Camden Jewish Society were transferred to Nightingale Hammerson Trustee Company. The charity has remained dormant from this date and was dissolved on 27 September 2022.

Trustees donations

During the year the charity received donations totalling £128,103 from 13 of the charity’s Trustees and organisations to which they are connected (2021 - £478,746 from 11 trustees and connected organisations). The majority of the donations in 2021 related to capital fundraising for Hammerson House. In addition, £145,000 (2021 - £53,000) was received from the Vice President and organisations to which she is connected.

25. POST BALANCE SHEET EVENTS

There were no post balance sheet events to report.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

26. COMPARATIVE FIGURES WITH FULL ANALYSIS BETWEEN FUNDS

Consolidated Statement of Financial Activities

Consolidated Statement of Financial Activities
	Unrestricted Funds
	General Fund Designated Fund Restricted Fund 2021 Total Funds
	£'000 £'000 £'000 £'000
Income from:
Donations and legacies
Revenue purposes (including Emergency Appeal)	2,104 - 180 2,284
Capital purposes	- - 1,669 1,669
Investments and short term deposits	290 - 44 334
Charitable activities
Provision of residential and nursing care	10,365 - - 10,365
Government's infection control and furlough grants	24 - 589 613
Other sources	360 - - 360
Total Income	13,143 - 2,482 15,625
Expenditure on:
Raising funds
Generating donations and legacies	399 - - 399
Investment management costs	160 - - 160
Charitable activities
Provision of residential and nursingcare	13,100 1,159 1,277 15,536
Total expenditure	13,659 1,159 1,277 16,095
Net (expenditure)/income for the year before transfers and gains on investments	(516) (1,159) 1,205 (470)
Transfers between funds	(15) 3,821 (3,806) -
Gains on investments
Realised gains on disposal of investments	350 - - 350
Unrealisedgains on listed investments	3,114 - - 3,114
Net income(expenditure) for theyear	2,933 2,662 (2,601) 2,994
Other recognised gains and losses
Actuarialgains onpension scheme	770 - - 770
Net movement in funds	3,703 2,662 (2,601) 3,764
Funds brought forward at 1 October 2020	19,270 52,662 17,498 89,430
Funds carried forward 30 September 2021	22,973 55,324 14,897 93,194

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

26. COMPARATIVE FIGURES WITH FULL ANALYSIS BETWEEN FUNDS (CONTINUED)

Charity Statement of Financial Activities

Charity Statement of Financial Activities
	Unrestricted Funds
	General Fund Designated Fund Restricted Fund 2021 Total Funds
	£'000 £'000 £'000 £'000
Income from:
Donations and legacies
Revenue purposes (including Emergency Appeal)	2,346 - 180 2,526
Capital purposes	- - 1,669 1,669
Investments and short term deposits	295 - 44 339
Charitable activities
Provision of residential and nursing care	10,365 - - 10,365
Government's infection control and furlough grants	24 - 589 613
Other sources	377 - - 377
Total Income	13,407 - 2,482 15,889
Expenditure on:
Raising funds
Generating donations and legacies	399 - - 399
Investment management costs	160 - - 160
Charitable activities	- - -
Provision of residential and nursingcare	13,100 1,159 1,277 15,536
Total expenditure	13,659 1,159 1,277 16,095
Net expenditure for the year before transfers and gains (losses) on investments	(252) (1,159) 1,205 (206)
Transfers between funds	(302) 4,108 (3,806) -
Gains on investments
Realised gains on disposal of investments	350 - - 350
Unrealisedgains on listed investments	3,114 - - 3,114
Net income(expenditure) for theyear	2,910 2,949 (2,601) 3,258
Other recognised gains and losses
Actuarialgains onpension scheme	770 - - 770
Net movement in funds	3,680 2,949 (2,601) 4,028
Funds brought forward at 1 October 2020	19,271 54,597 17,509 91,377
Funds carried forward 30 September 2021	22,951 57,546 14,908 95,405

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

26. COMPARATIVE FIGURES WITH FULL ANALYSIS BETWEEN FUNDS (CONTINUED)

Income from donations and legacies

Group		General Fund Restricted Fund 2021 Total Funds £'000 £'000 £'000 1,206 180 1,386 - 1,669 1,669 898 - 898 2,104 1,849 3,953 General Fund Restricted Fund 2021 Total Funds £'000 £'000 £'000 1,448 180 1,628 - 1,669 1,669 898 - 898 2,346 1,849 4,195 General Fund Restricted Fund 2021 Total Funds £'000 £'000 £'000 96 - 96 142 44 186 238 44 282 8 - 8 44 - 44 290 44 334	General Fund Restricted Fund 2021 Total Funds £'000 £'000 £'000 1,206 180 1,386 - 1,669 1,669 898 - 898 2,104 1,849 3,953 General Fund Restricted Fund 2021 Total Funds £'000 £'000 £'000 1,448 180 1,628 - 1,669 1,669 898 - 898 2,346 1,849 4,195 General Fund Restricted Fund 2021 Total Funds £'000 £'000 £'000 96 - 96 142 44 186 238 44 282 8 - 8 44 - 44 290 44 334
Donations:
Revenue donations
Hammerson House capital fund
Legacies
Revenue donations
2021 Total Funds
Charity
Donations:
Revenue donations
Hammerson House capital fund
Legacies
Revenue donations
2021 Total Funds
Income from investments
Group
Income from listed investments by fund manager:
Investment Income Veritas
Investment Income Schroders
Rental income
Interest receivable
2021 Total Funds
			General Fund Restricted Fund 2021 Total Funds
Charity			£'000 £'000 £'000
Income from listed investments by fund manager:
Investment Income Veritas			96 - 96
Investment Income Schroders			142 44 186
			238 44 282
Rental income			8 - 8
Interest receivable			49 - 49
2021 Total Funds			295 44 339

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

26. COMPARATIVE FIGURES WITH FULL ANALYSIS BETWEEN FUNDS (CONTINUED)

INCOME FROM PROVISION OF RESIDENTIAL CARE AND NURSING

INCOME FROM PROVISION OF RESIDENTIAL CARE AND NURSING
	General Fund Restricted Fund 2021 Total Funds
Group and charity	£'000 £'000 £'000
Maintenance contributions receivable	10,365 - 10,365
Total maintenance contributions receivable	10,365 - 10,365

EXPENDITURE ON GENERATING DONATIONS AND LEGACIES

	General Fund Designated Fund Restricted Fund 2021 Total Funds
Group and Charity	£'000 £'000 £'000 £'000
Staff costs	208 - - 208
Fundraising, legacy and appeal expenses	163 - - 163
Support costs(Note 7)	28 - - 28
2021 Total Funds	399 - - 399

Expenditure on provision of residential and nursing care

	General Fund Designated Fund Restricted Fund 2021 Total Funds
Group	£'000 £'000 £'000 £'000
Staff costs	7,848 - 530 8,378 1,221 - - 1,221 1,472 - 7 1,479 488 - 59 547 2,071 - - 2,071 - 1,159 681 1,840
Catering and food
Premises day to day costs
Medical, care and welfare costs
Support costs (Note 7)
Depreciation(Note 14)
2021 Total Funds	13,100 1,159 1,277 15,536
	General Fund Designated Fund Restricted Fund 2021 Total Funds
Charity	£'000 £'000 £'000 £'000
Staff costs	7,848 - 530 8,378 1,221 - - 1,221 1,472 - 7 1,479 488 - 59 547 2,071 - - 2,071 - 1,159 681 1,840
Catering and food
Premises day to day costs
Medical, care and welfare costs
Support costs (Note 7)
Depreciation(Note 14)
2021 Total Funds	13,100 1,159 1,277 15,536

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